Global Plastic Labware Market Outlook & Forecast 2023-2028: Increasing Demand from Emerging Economies and Opportunities for Exports in Developing Countries
DUBLIN, July 11, 2023 /PRNewswire/ -- The "Plastic Labware Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global plastic labware market is expected to reach a value of $19.84 billion by 2028 from $9.94 billion in 2022, growing at a CAGR of 12.2%
The global plastic labware market is extremely competitive, with many manufacturers and suppliers participating. In addition to the market's major companies like Thermo Fisher Scientific, Eppendorf, and others, there are many smaller producers and suppliers. These businesses may specialize in certain types of plasticware or operate in specific geographic areas.
North America is expected to dominate the global plastic labware market, accounting for over 33% share in 2022. Factors such as the rising number of diagnostic tests, increased usage of laboratory consumables, and the introduction of specially designed plasticware are driving the growth of the plastic labware market in the region.
The U.S. and Canada are the major countries in this region. North America has been one of the leaders in innovation and research. To retain its top position, the U.S. is continuing to invest in R&D, which is expected to boost the plastic labware market in the region during the forecast period.
MARKET TRENDS & OPPORTUNITIES
Increased Investments in R&D
Increased research and development (R&D) operations for plastic labware have increased demand globally for these items. Researchers and scientists have been drawn to creating novel and modern plastic labware with better features and usefulness, resulting in increased demand for these goods.
Plastic labware producers are investing in R&D to develop products that can endure severe temperatures, resist chemical corrosion, and have increased precision and repeatability as technology advances and new materials emerge. Advancements in the plastic labware market have broadened its usage outside typical laboratory settings, such as in the medical and biotechnology sectors.
Increased R&D activity for plastic labware has also created eco-friendly and biodegradable goods, addressing the environmental problems connected with traditional plastic labware. This breakthrough has piqued the interest of governments and institutions seeking to lower their carbon impact.
Rising Preference for Plasticware
Manufacturers improve the quality of test findings while enhancing the value of their products by altering the surface qualities of polymer labware. One of the things boosting the value of plastic labware is plasma treatment.
Millions of multi-well plates, pipettes, flasks, bottles, vials, culture plates, Eppendorf tubes, and other polymer labware products are produced annually for research, drug development, and diagnostic testing.
Although many are simple, low-cost consumables, a growing percentage are now surface treated with gas plasma or have functional coatings that are precisely constructed to improve research quality and diagnostic sophistication. Traditional glassware is composed of borosilicate glass, which is non-recyclable because of its heat-resistant qualities.
INDUSTRY RESTRAINTS
Stringent Regulations
Plastic labware legislation differs by country; however, there is a global movement towards decreasing the use of single-use plastics and encouraging sustainability. Manufacturers must adapt to these restrictions to remain competitive in the plastic labware market and invest in sustainable alternatives.
Plastic-related rules and legislation have recently been established in several nations, regions, and towns. These are designed primarily to reduce consumption and improve waste management through use and disposal. Over 60 countries have banned or taxed plastic packaging and single-use/disposable garbage.
These restrictions and standards make it more difficult for plastic labware producers to function in the market. They must adhere to laws, which can raise production costs and impact product prices. Furthermore, the regulations and guidelines make marketing plastic labware products to increasingly environmentally conscious customers who prefer eco-friendly or biodegradable alternatives more difficult.
KEY QUESTIONS ANSWERED:
- How big is the plastic labware market?
- What is the growth rate of the global plastic labware market?
- What are the growing trends in the plastic labware industry?
- Which region holds the most significant global plastic labware market share?
- Who are the key players in the global plastic labware market?
MARKET DYNAMICS
Market Opportunities & Trends
- Rising Preference for Plastic Labware
- Increasing Demand from Emerging Economies
- Development in Covid-19 and Other Diseases Surfacing
Market Growth Enablers
- Increasing Investments in R&D
- Growth of Pharmaceutical and Biotechnology Industries
- Opportunity for Exports in Developing Countries
Market Restraints
- Non-Biodegradability of Plastics and Other Functional Limitations
- Competition from Alternative Materials
- Stringent Regulations
Macroeconomic Overview
- Economic Conditions
- Technological Advances
- Environmental Regulations
- Demographics
- Global Health Pandemics
- Pest Analysis
Value Chain Analysis
- Raw Material Suppliers
- Plastic Labware Manufacturers
- Distributors
- End-Users
- Recycling and Disposal
Bcg Matrix
- Star
- Cash Cow
- Question Mark
- Dog
Development of Ai/Ml and IoT in the Healthcare Industry
- Ai/Ml in Healthcare
- IoT in Healthcare
Key Company Profiles
- Bellco Glass
- Corning
- DWK Life Sciences
- Sartorius
- Thermo Fisher Scientific
Other Prominent Vendors
- Borosil
- Citotest Labware Manufacturing
- Crystalgen
- DELUXE SCIENTIFIC SURGICO
- Eppendorf
- Glacier Glass Works
- Glassco Laboratory Equipments
- METTLER TOLEDO
- Naugraexport
- PerkinElmer
- Quark Glass
- Bel-Art Products
- Tarsons
- Greiner Bio-One International
- VWR International
- BrandTech Scientific
- KARTELL
- Polylab
- KANGJIAN Medical Apparatus
- Labcon North America
- Pipettes.com
- Simport Scientific
- SPL LIFE SCIENCES
- Labnet
- CELLTREAT Scientific Products
- Gilson
- Bio-Rad Laboratories
- Socorex Isba
- Medline Industries
SEGMENTATION INSIGHTS
Segmentation by Product
- Consumable
- Reusable
- Others
Segmentation by Material
- Polystyrene
- LDPE
- HDPE
- PP
- Others
Segmentation by End-users
- Academia/Research
- Pharmaceutical
- CROs
- IVF Clinics
- Diagnostic Labs
- Others
Segmentation by Distribution Channel
- Direct Channel
- Indirect Channel
For more information about this report visit https://www.researchandmarkets.com/r/c2mp4j
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